Norwegian tax authority ‘Skatteetaten’ warns power companies of possible VAT fraud of GOs

Norwegian tax authority ‘Skatteetaten’ warns power companies of possible VAT fraud of GOs

Norwegian tax authority ‘Skatteetaten’ has warned electricity companies of possible attempts of VAT fraud in the market for Guarantees of Origin (GO) and Elcertificates.

“We see that the market for guarantees of origin may be used as a tool for organised VAT fraud from criminals outside of Norway,” Hans Christian Holte, head of the Skatteetaten, told Aftenposten. Further, the Norwegian TSO Statnett confirmed that up to 30 companies mainly from Europe had recently tried to register in the NECS registry for trading guarantees of origin and Elcertificates. Statnett’s Ivar Munch Clausen added that last year GO prices surged more than 200% and could have made the GO market more attractive for fraudste...